Hyperliquid Whale Deposits $4.51M USDC; Holds $981K Unrealized Profit on SKHX Long

A large leveraged SKHX position on Hyperliquid is driving extreme price swings and liquidation cascades.

A whale deposited 4.51 million USDC into Hyperliquid and holds an unrealized profit of $981,300 on an existing SKHX long position. The activity represents documented large-account usage of Hyperliquid's on-chain perpetual infrastructure.